Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Appellant's counter claim against the Corporate Debtor was held not maintainable within CIRP proceedings. Claims not included in the approved Resolution Plan stand extinguished. Section 60(5) of the IBC cannot be invoked to challenge extinguishment of claims post Resolution Plan approval, as it would delay proceedings and distort the Code's object. The time-bound CIRP process precludes entertaining claims outside the Resolution Plan's purview to avoid delays. The NCLAT dismissed the appeal, upholding the Adjudicating Authority's reliance on the Supreme Court's judgment in Adani Power Ltd. v. Shapoorji Pallonji & Co. Pvt. Ltd.
Appellant's counter claim against the Corporate Debtor was held not maintainable within CIRP proceedings. Claims not included in the approved Resolution Plan stand extinguished. Section 60(5) of the IBC cannot be invoked to challenge extinguishment of claims post Resolution Plan approval, as it would delay proceedings and distort the Code's object. The time-bound CIRP process precludes entertaining claims outside the Resolution Plan's purview to avoid delays. The NCLAT dismissed the appeal, upholding the Adjudicating Authority's reliance on the Supreme Court's judgment in Adani Power Ltd. v. Shapoorji Pallonji & Co. Pvt. Ltd.
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